UPDATE 2-U.S.-based domestic stock mutual funds suffer $1.83 bln outflow -ICI

Wed Apr 10, 2013 3:45pm EDT

By Sam Forgione
    NEW YORK, April 10 (Reuters) - Investors in mutual funds
based in the United States pulled $1.83 billion out of funds
that hold U.S. stocks in the latest week, the most since the
start of the year, data from the Investment Company Institute
showed on Wednesday.
    The outflows from funds that hold U.S. stocks in the week
ended April 3 came despite the benchmark S&P 500 touching
a record high over the week. 
    The outflows were also the highest since the week ended
January 2, said ICI, a U.S. mutual fund trade organization. In
that week, investors redeemed $9.25 billion from the funds. 
    Funds that hold international stocks, however, attracted
inflows of $3.08 billion over the week, leading to net inflows
of $1.25 billion into stock funds. 
    The S&P 500 fell 0.6 percent over the reporting period.
After hitting a record high at the start of the week, the index
tumbled following the ADP National Employment Report, which
showed unexpectedly weak growth in U.S. private sector jobs and
services.
    Bond mutual funds, meanwhile, attracted $6.44 billion over
the week, up from $3.45 billion the prior week. That marked the
most new cash committed to bond funds since mid-January,
although the funds attracted just slightly less than the latest
amount in early March.
    Hybrid funds, which can invest in stocks and fixed income
securities, gained $1.15 billion in new cash over the week, down
from $1.82 billion the prior week. 
    The following table is a breakdown of estimated ICI flows
for the past five weeks (all figures in millions of dollars):
               3/6/13  3/13/13   3/20/2013  3/27/2013   4/3/2013
 Total Equity   2,936    3,861       5,025      3,822      1,254
    Domestic     -571      849       1,277        969     -1,827
    World       3,507    3,012       3,748      2,853      3,081
 Hybrid*        2,496    2,073       1,406      1,819      1,145
 Total Bond     6,416    1,638       5,952      3,446      6,436
    Taxable     6,056    1,973       6,231      3,392      6,363
    Municipal     361     -335        -278         54         73
 Total         11,848    7,572      12,383      9,087      8,836
 *Hybrid funds can invest in stocks and/or fixed income
securities.
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